Section 47:2202 - [See Note] Minimum bid prices; sale of adjudicated property; sale of tax lien certificate issued to the political subdivision; sale of immovable property to enforce a tax lien certificate held by a political subdivisionA.(1) The governing authority of each political subdivision may elect to set a dollar amount as a minimum bid for the public sale of adjudicated property, which shall be at least the total amount of statutory impositions, governmental liens, and costs of sale.(2) The governing authority of each political subdivision may elect to require an appraisal of adjudicated property to be sold at public sale. When the political subdivision elects to use the appraised value to establish a bidding floor instead of setting a dollar amount minimum bid as allowed by this Section, the political subdivision shall appoint a licensed appraiser to appraise and value the property. The minimum bid at the first public sale shall be at least two-thirds of the appraised value of the property. If the property fails to sell at the first public sale, the minimum bid at the second sale shall be one-third the appraised value of the property.(3) The governing authority of each political subdivision may elect to sell the adjudicated property at public sale to the highest bidder without setting a minimum bid or requiring an appraisal.(4) The governing authority of each political subdivision may elect to set a minimum bid for the assignment of tax lien certificates issued to the political subdivision to be sold at a public sale.(5) The governing authority of a political subdivision shall set a minimum bid for the sale of immovable property to enforce a tax lien certificate held by the political subdivision that is not less than two-thirds of the market value of the immovable property as established by the assessor. * * *
Acts 2008, No. 819, §1, eff. Jan. 1, 2009; Acts 2009, No. 511, §2; Acts 2010, No. 947, §1.Amended by Acts 2024, No. 774,s. 1, eff. 1/1/2026 if the proposed amendment to Article VII, Section 25 of the Constitution of Louisiana contained in the Act which originated as Senate Bill No. 119 of this 2024 Regular Session of the Legislature is adopted at a state-wide election and becomes effective or if a proposed amendment to Article VII, Section 25 of the Constitution of Louisiana, which authorizes liens and privileges on immovable property for nonpayment of taxes is adopted at a statewide election prior to December 7, 2024..Acts 2008, No. 819, §1, eff. 1/1/2009; Acts 2009, No. 511, §2; Acts 2010, No. 947, §1.This section is set out more than once due to postponed, multiple, or conflicting amendments.